The RF Auction House announced a new tender on August 24th for selling the incompleted Hyatt hotel in Vladivostok in the Russian Far East, Interfax-Realty reports
The previous auction did not take place on July14th due to the absence of bids. The initial price of the lot including two incompleted buildings and the territory round them was 4,153,240,000 roubles (≈$70m).
The repeat bidding process will be held with the reserved price decrease. But it cannot fall lower than 2,907,268,000 roubles (≈$48.5m), i.e. 70% from the initial price.
The complex includes a hotel building of 36,400 square meters (218 rooms) and a bulding of a SPA-complex of 10,200 square meters. Additionally, a buyer will get the right to rent two land plots with the total area of 31,200 square meters.
